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UK Mortgages & Loans -> What is a Mortgage?
A mortgage is simply a loan secured by a property. If you are unable to repay the loan your property will be at risk of being repossessed by the lender. A mortgage is one of the most popular loans, simply because everyone at some stage will need to purchase a property.
Nowadays there are a great number of different mortgages types available to a person. These various types would include mortgages that are fixed, capped, base rate tracker, variable, offset, discount, interest only and repayment only.
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